- The process of moving from left to right on the combined
graph [I] requires innovation [
E]
-
Product innovation involves coming up with something
new (or sufficiently different)
- small organisations find it much easier to do this in
part because they are willing to take risks (and because
they have less to lose)
- Innovation clusters [E] occur
because sometimes it is necessary for multiple innovations to
be adopted at the same time
-
Process innovation [
E] involves changing the way the company does things to
do them better
- making this transition from product to process
innovation is critical to moving from a high technology
product to a consumer commodity product
- at same time that companies move into process
innovation, their products usually move past the
transition point where the underlying technology
satisfies the users' basic needs